Since you play P:M, ya should already know the answer t' that. But yeah. P:M changes Brawl so that it emulates the faster (and more fun) pace of Melee and the ability t' pull off swaggalaggin' (I will never say that again) combos... though P:M aims t' be even better than Melee. Despite the fact it's still in the beta, P:M is clearly more balanced than Melee and especially Brawl. There's no need t' be wholly concerned with the tier list, play whoever the hell ya want 'n crush the foe if you're better than 'em. Bad match-ups are still a thing obviously, but that's what counterpickin' is for.

Once people discovers the most effective playstyle of each character, we might find out that it was not as balanced as we thought. Basically right now Project M is a mixture of oil and water. Until it settles, it is balanced.

I know for a fact they left Wavedashing in, but didn't they also know 'bout DACing by late-development?

If patching was a thing, Captain Falcon would've been playable for all these years, 'n I could still play Meta without feelin' utter shame since he wouldn't be horribly broken. Patching done right makes everythin' better.